Dynamic Technology Lab Private Ltd Purchases Shares of 7,115 WesBanco, Inc. (NASDAQ:WSBC)

Dynamic Technology Lab Private Ltd bought a new position in WesBanco, Inc. (NASDAQ:WSBC) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,115 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other large investors also recently modified their holdings of the stock. Quarry LP raised its position in WesBanco by 215.3% in the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock valued at $37,000 after buying an additional 913 shares during the last quarter. Signaturefd LLC grew its holdings in shares of WesBanco by 214.5% in the second quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 944 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of WesBanco during the second quarter valued at approximately $53,000. CWM LLC lifted its holdings in WesBanco by 175.2% during the third quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,319 shares during the period. Finally, nVerses Capital LLC purchased a new position in WesBanco in the third quarter worth $80,000. Institutional investors own 61.41% of the company’s stock.

Insider Transactions at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $34.87, for a total value of $39,228.75. Following the completion of the sale, the executive vice president now owns 46,817 shares of the company’s stock, valued at $1,632,508.79. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $35.00 target price on shares of WesBanco in a research note on Monday, September 9th. Stephens lifted their price objective on shares of WesBanco from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, WesBanco presently has an average rating of “Moderate Buy” and a consensus price target of $36.17.

WesBanco Stock Performance

WesBanco stock opened at $35.28 on Tuesday. WesBanco, Inc. has a 1-year low of $25.56 and a 1-year high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $2.36 billion, a PE ratio of 16.88 and a beta of 0.81. The firm’s 50 day simple moving average is $32.21 and its 200 day simple moving average is $30.46.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. WesBanco had a return on equity of 5.75% and a net margin of 14.79%. The company had revenue of $243.34 million for the quarter, compared to the consensus estimate of $152.40 million. During the same quarter last year, the business posted $0.59 earnings per share. As a group, analysts expect that WesBanco, Inc. will post 2.14 earnings per share for the current fiscal year.

WesBanco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Friday, December 6th. This is a boost from WesBanco’s previous quarterly dividend of $0.36. WesBanco’s payout ratio is currently 70.81%.

About WesBanco

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.